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Mashcka [7]
3 years ago
14

Jan and Sam have all of their 2018 tax documents ready to bring to George to prepare their return. These documents include a W-2

for Jan ($52,300), a W-2 for Sam ($48,700), a state tax refund of $475, canceled debt income of $1,800 for Jan, and state lottery winnings of $2,000. They never itemize deductions. What will be their total on Form 1040, line 7? a. $105.275 b. $104,800 c. $103,275 d. $103,000?
Business
1 answer:
Nonamiya [84]3 years ago
7 0

Answer:

The answer is b. $104,800

Explanation:

W-2 for Jan $52,300+  Sam $48,700 + canceled debt income of $1,800 + state lottery winnings of $2,000 = $104,800

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Godart Co. issued $4.5mn notes payable as a scrip dividend that matured in five years. At maturity, each shareholder of Godart's
Ghella [55]

Answer:

$6,750,000

Explanation:

Since it is stated in the question that the 3mn shares will be paid the principal and interest at maturity, and it is not stated the note is compounded, we apply the following simple calculation:

Amount to pay = $4,500,000 + [($4,500,000 × 10%) × 5 years]

                         = $4,500,000 + [$450,000 × 5 years]

                         = $4,500,000 + 2,250,000

Amount to pay = $6,750,000

Therefore, the amount should be paid to the stockholders at the end of the fifth year is $6,750,000.

4 0
3 years ago
Compute the standard cost for one hat, based on the following standards for each hat: Standard Material Quantity: 3/4 yard of fa
Taya2010 [7]

Answer:

$21.65

Explanation:

The computation of the standard cost is shown below:

= Material cost + labor cost + factory overhead cost

where,

Material cost = 3 ÷ 4 × $5 per yard

                     = $3.75

Labor cost = 2 hours × $5.75 = $11.5

And, the factory overhead cost is

= $3.20 × 2 hours

= $6.4

So, the standard cost is

= $3.75 + $11.5 + $6.4

= $21.65

3 0
3 years ago
50 points
Anna11 [10]
I would go with D because it makes more sense
8 0
3 years ago
Dragon Autos Inc., an automobile company based in the country of Bear Island, made a capital investment of $300,000 to set up pr
Irina18 [472]

Answer:

Foreign direct investment

Explanation:

Foreign direct investment (FDI) refers to a situation where a firm from country A invests in business in country B. Generally speaking FDI takes place when a firm acquires at least 10% of a business in another country.

In this case Dragon Autos is a company that is based in Bear Island (country A) that is investing $300,000 in the country of Westerland (country B).

FDI amounts to $253.6 billion in the US economy.

5 0
3 years ago
28. Considered alone, which of the following would increasea company’s current ratio?
natka813 [3]

Answer:

d.An increase in accounts receivable.

Explanation:

The current ratio is one of the liquidity ratios. It measures the company's ability to meet its current liabilities. The higher the ratio, the more financially healthy a company is.  The calculation of the current ratio is by dividing current assets by current liabilities.  

Current assets include inventory,  cash and cash equivalents, accounts receivable, and prepaid expenses .  Examples of current liabilities include accounts payable, accrued liabilities like dividend, and payroll,  Short-term debt, and  the current portion of long-term debt.

An increase in current liabilities increases the current ration. The bigger the numerator is over the denominator, the better the current ratio.

7 0
3 years ago
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